Ally Financial plans two-part note offering to fund tender offers

By Aleesia Forni

Virginia Beach, Feb. 10 – Ally Financial Inc. plans to sell a two-part offering of senior notes, according to a 424B5 filed with the Securities and Exchange Commission.

BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co. and Morgan Stanley & Co. LLC are the bookrunners.

Proceeds will be used to fund tender offers for up to $750 million of the company’s 8% senior notes due 2020 and 7.5% senior notes due 2020 and $150 million of its 8% senior notes due 2031.

Ally is a Detroit-based auto financing company.

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